Middle East & Africa Bicycle Market Size & Outlook
Middle East & Africa bicycle market, 2018-2030 (US$M)
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MEA bicycle market highlights
- The MEA bicycle market generated a revenue of USD 4,522.1 million in 2023.
- The market is expected to grow at a CAGR of 6.8% from 2024 to 2030.
- In terms of segment, road bikes was the largest revenue generating product in 2023.
- Cargo Bikes is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 4,522.1 million |
| Market revenue in 2030 | USD 7,186.7 million |
| Growth rate | 6.8% (CAGR from 2023 to 2030) |
| Largest segment | Road bikes |
| Fastest growing segment | Cargo Bikes |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes |
| Key market players worldwide | Accell, Avon Protection PLC, Dorel Industries Inc Shs -B- Subord.Voting, Giant Bicycle, MERIDA BIKES, Specialized Bicycle Components, The Scotts Miracle Gro Co Class A, Trek Resources Inc, Atlas Cycles, Cervelo Cycles, Beistegui Hermanos, Axalko, Mammoth Mountain Ski Area |
Other key industry trends
- In terms of revenue, MEA region accounted for 6.7% of the global bicycle market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 41,707.7 million by 2030.
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Bicycle Market Scope
Bicycle Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa bicycle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bicycle market will help companies and investors design strategic landscapes.
Road bikes was the largest segment with a revenue share of 41.5% in 2023. Horizon Databook has segmented the Middle East & Africa bicycle market based on mountain bikes, hybrid bikes, road bikes, cargo bikes covering the revenue growth of each sub-segment from 2018 to 2030.
Bicycle sales in the Middle East & Africa were reduced during the COVID-19 pandemic due to the closure of offline stores. However, the demand for bicycles increased post the pandemic as consumers are avoiding public transport due to the fear of the virus.
Moreover, as consumers are becoming health-conscious, they are considering bicycles to be a healthful mode of transportation. This factor is increasing the adoption of bicycles in the region and propelling the growth of the market.
To address the increased consumer demand for bicycles, major companies are venturing into manufacturing bicycles/e-bikes, which is contributing to market growth. For instance, in March 2022, TIER launched its first e-bike fleet in the Middle East. Bahrain was the first MEA country to get TIER's e-bikes.
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Our clientele includes a mix of bicycle market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa bicycle market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA bicycle market size, by country, 2018-2030 (US$M)
Middle East & Africa Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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